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Expire, which would increase taxes on people who are paying that from 4.2ers perz to 6.2%. . what impact would that have on individual spending? isnt that one of the more stimulating stacks cuts that was passed in 2009? >> that was designed as a short-term stimulus. people see that immediately in their paycheck, and the idea was nelled immediately go out and spend it. s people have been spending it. once that goes up, you will see less money in your paycheck as a result of the payroll tax cut no...

Usually 6.2% and i comes out of your paycheck every week or whenever you get your paycheck. that seems to be going away no matter what. neither side has decided he want to push for this. it seems to me, weve created this situation if you get rid of payroll taxes, theres a hit to the economy. ing that that will affect the gdp growth. at the same time like suzy said, this is how we fund social security. this is how we decided to fund social security. it doesnt come from the general fund. we have a...

2%? >> keep those. the whole shabang. what we need is more money to go to the economy to keep things afloat. and this is not the time to figure out how were going to reduce that. it doesnt -- its not quite that important right now. >> picking up on that point, youre very closely following that stuff in washington, it looks like, my interpretation of this and tell me if im wrong, the payroll tax is basically gone already? >> i totally agree. its not even being mentioned and the reason is, obamas ...

Because the majority of the fallout coming out over months and as we said yesterday for millions of americans the impact will be immediate. federal unemployment benefits automatically stop for 2 million people and impact all u.s. workers on the payroll tax and rate for social security at 4.2% reversing to 6.2% and extra $1,600 most americans wont see or $136 a month starting with first the paycheck of 2013. happy new year, everyone. even if congress strikes a deal dont expect the cash to come ba...

Goes on from there. >> kelly: and the president says, the deal is the not done, i will blame the republicans during the state of the union address. of course, republicans cant afford to have that kind of blame coming as well. theres blame going on in both houses and each one doing something, and isnt the dog in the room, getting something done. >> clayton: where are they call them back. >> kelly: your paycheck, your paycheck, my paycheck, all of our paychecks are going to be adversely affected. ...

Of every single persons paycheck because that holiday is over. >> clayton: yes, 2% were talking here so its going to go back to, as alisyn pointed out, that 6.2%, its currently 4.2%. will they extend this thing? is this part of the negotiations? we dont know, so far it hasnt been, is it going to be put on the table at any point. >> kelly: unlike you, people on capitol hill scratching their heads and saying, what is going on, why havent we had a common sense agreement bipartisan to get something ...

Paychecks underny circumstances will plunge. >> alisyn: our paychecks are taking a hit even if it does get done because the payroll tax holiday, which has been in effect, president obama says ive reduced everybodys taxes because theyve gone to 4.2%, that they were always set to sunset on new years eve. so regardless of -- the best case scenario is seen, your social security taxes in your paycheck will go back to 6.2%. >> which is ridiculous because the bush tax cuts are set to expire. sequestrat...

As soon as stores replenish the shelves, apparently they get snapped up because of the high demand. if youre wondering what this is. its a new high-def game console priced at $299 for an 8-gigabyte model or $349 for a 32-gigabyte model. and it has that wireless motion sensor game pad with a 6.2-inch touch screen. its all just gobbly goop to me, im not of that generation. >> mandy drury, thanks so much. >> thank you. and as we get closer to new years eve, we found our best of 2012 list. its bin...

Begging resolution because until we see action and growth out of these companies, not much is going to happen and when that doesnt happen, theres layoffs, they dont expand and create jobs. we need that. why does the financial community care, they need the companies to be doing business. they need m & a to turn out business for themselves. so its more we need to know what the clear path is. so when theres uncertainty, no one wants to spend. >> you know, guys, theres another aspect of these discus...

Long-term funding issue. yet every time it comes up, one party is going to be blamed for raising taxes on the middle class, going from 4.2% to 6.2%, would be like a thousand. stephanie, i wonder, can you envision a scenario where both parties come to a point and say, your pay troll tax is going back to 6.2%? >> in the foreseeable future it doesnt seem that both parties can come to an agreement. from a capital market perspective, they need some sort of resolution and clarity to move forward and i...